A great resource which highlights that even though there are less than
10,000 white collar crime convictions a year, over 100,000 each year
accept plea deals. With almost 7 million employed in financial
sectors, if those had all been independent, in the course of the
average life expectancy, 110% of all financial sector employees can be
expected to commit a white collar crime (I guess some must have been
identity fraud). That being said, not all white collar crime is in the
financial sector (around 20%) and 50% of offenders become re-offenders
quickly after release and finally the average career is not the same
as the life expectancy, but without those qualifying premises it would
appear all bankers go bad. Even with those qualifying factors, the
numbers speak starkly to a culture which stands out among industries. Click here
to see the answer
I guess the right answer would be that something like 80-90% of
bankers are goodies, but still getting a check has about 100X greater
chance (in the states anyway) of putting you in touch with a former or
future criminal than buying a joint (the white house says that about
one in every 12,000 joints smoked result in an arrest)!
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